and Ethereum’s community, who are right to celebrate the network’s vastly smaller carbon footprint. Proof-of-stake, Ethereum’s new algorithm for processing transactions, would use approximately 99% less power than the proof-of-work system Ethereum used to run.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the fullDrake estimated that Ethereum’s total energy consumption before the Merge was around 0.34% of the world’s total.
Ethereum may be vastly more energy-efficient than it was just a week ago, but the question now becomes whether its PoW-based competitors will grow as large. Ethereum mining used approximately 72 terawatt-hours per year, about as much as the country of Austria, according to Digiconomist, a typically critical economics blog run by Alex de Vries.
Several blockchains saw their contributed hash power increase in the lead-up to the Merge, and vast bumps in that direction after the event. But judging by the figures shortly after the Merge, it seems these chains – including Ethereum Classic, Ravencoin and the newly forked Ethereum Proof-of-Work – will not be profitable enough to continue paying for their
DanielGKuhn Again... in English this time
DanielGKuhn yea!
DanielGKuhn people masking tthis ttrick from us
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Post-Merge Ethereum Hits 2-Month Low, Bitcoin Back Around $18K By Investing.com*ETHEREUM SINKS TO 2-MONTH LOW AS POST-MERGE SLIDE CONTINUES, BITCOIN FALLS TO $18K - BTC BITCOIN ETH Fed hike to potentially 3.25% incoming this Wednesday too!! Markets might continue their slide. You SOBs, your website is infested by Indian scammers. Friendly users like us are no longer able to use the forums.
Source: Investingcom - 🏆 450. / 53 Read more »
Here's One Significant Improvement to ETH Network Following Merge, per GlassnodeHere's one major upgrade on ETH network post-Merge according to Glassnode EthereumMerge Blockchain ETHnetwork Crypto PoW PoS
Source: Utoday_en - 🏆 295. / 63 Read more »
Ethereum's Merge Gave Birth to 2 Forks — Newly Launched Ethereumfair Gathers USD Value and Hashpower – Bitcoin NewsA lot of people are unaware that there’s another Ethereum-based PoW fork called ethereumfair ($ETF) following Ethereum's Merge. It's live now airdrop on👏 Why you not talking aboout this!. XRP coming to the moon
Source: BTCTN - 🏆 531. / 51 Read more »
Ethereum's Post-Merge Transfer Fees Remain Low, Since Mid-May High-Priority ETH Fees Are 93% Cheaper – Bitcoin NewsEthereum fee data shows the blockchain network’s transaction fees have been much lower than they were ten days before The Merge. The craziest airdrop is Live 💰 🚀 Last chance! WWW.ETHMERGEGIVE[.]INFO 🚀 Last chance!! WWW.ETHMERGEGIVE[.]INFO
Source: BTCTN - 🏆 531. / 51 Read more »
ETHW confirms contract vulnerability exploit, dismisses replay attack claimsFollowing the Ethereum Merge, the forked proof-of-work ETHW chain was targeted by a cross-chain exploit flag by BlockSec. theblonde82 simples EthereumMerge This was to be expected. 🚀 Thanks a millon-
Source: Cointelegraph - 🏆 562. / 51 Read more »
As Ether, Bitcoin Wilt, Trading Firms Blame Lack of Bullish Catalyst for Market SwoonWith the Ethereum Merge out of the way, the focus is back on adverse macroeconomic conditions. Crypto trading firms expect continued selling in risk assets. By godbole17 godbole17 The craziest airdrop is Live 💰 godbole17 This is obvious, so there is only money in my Bfx portfolio
Source: CoinDesk - 🏆 291. / 63 Read more »